in fact, research shows, done appropriately, the application of technologies can both improve learning outcomes and decrease the costs of delivering that education. so far, big safings have proven allusive. nonetheless, massive, open online courses are testing the market. dozens of universities including mitt, harvard, princeton and stanford offer these classes with headlines that "college may never be the same." stay tuned, it could be a wild ride. ideas take time to research and explore. penn state operates a world campus with nearly 12,000 students enrolled in dozens of fully online programs. the model was honored as the top line line program in 2012, and it, too, continues to evolve. finally, in the coming year, we must prepare penn state for the next generation of leadership. i announced that i will be retiring by june 2014, and the board of trustees is about to begin the search for the next president. it's incumbent upon us to lay the ground work for my successor, and we look forward to an invigorating process with many outstanding candidates. penn state continues to move forward